Initial public offerings by U.S.-based buyout shops so far this year include some heavy hitters, but how are the portfolio companies that went public in 2010 doing? The table below looks at 10 with the highest returns through Friday.
As of March 18, 2011, Oasis Petroleum Inc. has performed the best of the class of 2010 based on the increase in its stock price. Its shares are trading 52.96 112.57 percent higher compared with its IPO price. EnCap Investments LP’s Oasis Petroleum went public on June 17. It raised $588 million through the sale of 42 million for $14 a share. The Houston-based oil and gas explorer and producer ended Friday at $27.76.
NXP BV was the top ranked LBO-sponsored company that went public in 2010, based on its post offer value of about $3.49 billion. The Netherlands-based semiconductor company raised $476 million through the sale of 34 million shares at a price of $14 in August. The company’s stock ended Friday’s session at $27.55, which represents an increase of 49.18 96.79 percent from its IPO price–good for third place on our Top 10 list. NXP’s backers were Bain Capital, HarbourVest Partners LLC, Kohlberg Kravis Roberts & Co., Partners Group AG and Silver Lake.
To check top performing VC-backed IPOs, click here.
(CORRECTION: The table that appeared in the original online version of this story included incorrect total return calculations. The ranking of the 10 best-performing buyout-backed IPOs from 2010 remain unchanged.)